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re: U.S. Steel CEO Says 10,000 Jobs To Be Brought Back… All Because Of Trump
Posted on 12/7/16 at 6:56 pm to buckeye_vol
Posted on 12/7/16 at 6:56 pm to buckeye_vol
I'm not sure what your point is to mention that but the reason U.S. Steel was removed from the S&P 500 index was because its market cap had dropped to the point where it was considered a mid-cap company. So, it was moved to the S&P Mid-Cap 400 index where it still is.
Posted on 12/7/16 at 7:08 pm to buckeye_vol
quote:
I don't blame them, but until the talk turns to action (like it did with the 1000 Carrier jobs), I'll be optimistic yet skeptical.
turns out it was only 700 jobs saved, Trump added the other 400 engineering union jobs that were already slated to stay. just a correction
Posted on 12/7/16 at 7:15 pm to a want
quote:
Trumpkins believe manufacturing jobs have fled the US not because of economics/cheap labor - but because the last 6 or 7 presidents hatd America
That's an overly simplistic straw man you are building.
I work in an industry that was impacted by environmental regulations enacted 4 years ago. A misunderstanding or a lack of care about those industries and the people who are employed in those industries is not a "fake" problem that you can dismiss. It's real. Those decisions have a real impact on people's lives. They are not without consequences.
Posted on 12/7/16 at 7:26 pm to HailHailtoMichigan!
quote:
GET OFF THIS FORUM
rents paid up, in your head
Posted on 12/7/16 at 7:29 pm to TiptonInSC
quote:
The winning....... when does it stop?!?!?!?
The scary thing is...he's not even President yet!!!!
Posted on 12/7/16 at 7:31 pm to buckeye_vol
quote:
It will be great if we build jobs, but I do wonder if companies are beginning to seek out free, positive publicity after the positive reaction to the Carrier deal.
Sounds like this deal is more about ramping up after scaling back in anticipation of business growth, and/or less regulation, and/or protection from Chinese pricing. It will be interesting to see how this one unfolds. I haven't done business with US Steel in years, but what typically plagued old-line US steel companies were pollution and safety issues, along with out-dated facilities that cost a ton to maintain. Perhaps they're thinking business will pick up if we slap a big tariff on Chinese steel.
Posted on 12/7/16 at 7:33 pm to joshnorris14
quote:
He announced this on November 11th originally
Also, I'm no expert, but I assume U.S. Steel is more of an earlier process of production provider and not really consumer facing. I doubt marketing is very important for them, but I could be wrong
Stock is up 50% since Nov 11. Pump and Dump Baby!!
Posted on 12/7/16 at 7:34 pm to LSURussian
quote:It probably wasn't the best measure to use, but I was pointing out how the company has declined from not only the largest steel producer but the largest corporation and first billion dollar company to the 24th largest steel producer in 2015 (13th in 2013).
I'm not sure what your point is to mention that but the reason U.S. Steel was removed from the S&P 500 index was because its market cap had dropped to the point where it was considered a mid-cap company. So, it was moved to the S&P Mid-Cap 400 index where it still is.
So I should have used a better representation, but I think the switch from large to mid cap encapsulates this in a simple categorization.
Posted on 12/7/16 at 7:35 pm to stout
They gonna be bigger than Hyman Roth again.
Posted on 12/7/16 at 7:39 pm to buckeye_vol
quote:
but I was pointing out how the company has declined from not only the largest steel producer but the largest corporation and first billion dollar company to the 24th largest steel producer in 2015 (13th in 2013).
US Steel never figured out that they were a materials company, not a steel company. They should have used their might to diversify into aluminum and composites when they had the opportunity.
Posted on 12/7/16 at 7:46 pm to buckeye_vol
quote:
but I do wonder if companies are beginning to seek out free, positive publicity after the positive reaction to the Carrier deal.
I don't see how this is a bad thing. Trump is making it cool for companies to add American jobs and have a made in America label. Theven pro America atmosphere will drive American manufacturing more than independent deals will
Posted on 12/7/16 at 7:48 pm to stout
I'm not familiar with the source of the article. There's something similar on CNBC: LINK
Most steel mills open in the US today are known as minimills, and mostly depend on scrap as a raw material source. Nucor and AccelorMittle are the more well known minimill operators. I've debated if we should restrict exportation of steel scrap to China just to maintain those raw material resources within our borders.
There's actually still a full process mill in Braddock, Pennsylvania known as the Edgar Thomson Works. I believe it is one of the few left in the US today that isn't a minimill. I know US Steel shut down the blast furnace of their Alabama plant within the last year or two.
From CNBC:
It sounds like Trump is talking to big auto, big steel, and other big manufacturers in the US and trying to find out what their issues are and using them to develop policy that can help facilitate growth.
If he can stop the bleeding, that alone would be a huge achievement.
Most steel mills open in the US today are known as minimills, and mostly depend on scrap as a raw material source. Nucor and AccelorMittle are the more well known minimill operators. I've debated if we should restrict exportation of steel scrap to China just to maintain those raw material resources within our borders.
There's actually still a full process mill in Braddock, Pennsylvania known as the Edgar Thomson Works. I believe it is one of the few left in the US today that isn't a minimill. I know US Steel shut down the blast furnace of their Alabama plant within the last year or two.
From CNBC:
quote:
"We already structured to do some things, but when you see in the near future improvement to the tax laws, improvements to regulation, those two things by themselves may be a significant driver to what we're going to do," he said in an interview with CNBC's "Power Lunch."
It sounds like Trump is talking to big auto, big steel, and other big manufacturers in the US and trying to find out what their issues are and using them to develop policy that can help facilitate growth.
If he can stop the bleeding, that alone would be a huge achievement.
quote:
Shares of the Pittsburgh-based company have soared about 80 percent since Trump's stunning victory on Nov. 8. Investors appear to be betting on increased infrastructure spending, which the president-elect has promised, as well as further restrictions on China-produced steel.
Posted on 12/7/16 at 7:51 pm to stout
So what's the tally of jobs now?
2000 from Carrier
10,000 from us steel
50,000 from SoftBank
Bet that WH press secretary feels dumb now.
2000 from Carrier
10,000 from us steel
50,000 from SoftBank
Bet that WH press secretary feels dumb now.
Posted on 12/7/16 at 7:52 pm to dewster
There are both scrap steel and new steel mills here in Mobile County Alabama, relatively new and ready to go. AN/MS Calvert can produce up to 5.3 million tons of rolled carbon steel products in a year. They can also produce a million tons of stainless.
If that's a minimill I would hate to see a full sized plant
If that's a minimill I would hate to see a full sized plant
This post was edited on 12/7/16 at 7:57 pm
Posted on 12/7/16 at 7:58 pm to antibarner
Hopefully this gets Nucor Louisiana back on track. As of now I think the remaining phases are on the back burner.
Posted on 12/7/16 at 7:58 pm to stout
Steel jobs were leaving in the 1970's and Pittsburgh was a ghost town by 1985. I am an avowed Obama hater but those steel mill jobs were long gone by time he took office.
Posted on 12/7/16 at 8:01 pm to stout
The Truth Division
The real story is that he HOPES the economy will allow him to rehire laid off workers. I like what he says about something being wrong when a steel producer has to hire more lawyers than engineers. But these propaganda sites spin bullshite. Here's a credible source on the story:
The Street
The real story is that he HOPES the economy will allow him to rehire laid off workers. I like what he says about something being wrong when a steel producer has to hire more lawyers than engineers. But these propaganda sites spin bullshite. Here's a credible source on the story:
The Street
Posted on 12/7/16 at 8:02 pm to The First Cut
This is great to see. Winning
Posted on 12/7/16 at 8:03 pm to bleeng
quote:
I am an avowed Obama hater but those steel mill jobs were long gone by time he took office.
Too much objectivity for this board, someone claimed earlier that US consumers started buying Asian goods once Obama was elected.
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